Thursday, March 14, 2019

USA, California: Controlled Thermal Resources Updates on Hell's Kitchen Lithium - Geothermal Project

Update from Controlled Thermal Resources

Controlled Thermal Resources (CTR) has released an update on the Hell’s Kitchen Lithium project combining established rapid lithium extraction technology and geothermal power.

Finance Update

KPMG officially launched Hell's Kitchen to investors in mid-February and has since entered into initial discussions with potential financial and offtake partners. Early interest is exceptionally strong with the core project team (including KPMG, HATCH, Adionics and CTR) busy responding to early due diligence questions and requests.

HATCH is on schedule to complete the project's Preliminary Economic Assessment (PEA) in mid-May which is expected to generate further interest and activity. Until negotiations with financial partners are finalised, CTR will continue to raise equity through its existing investor network.

Technology and Engineering Update

Major advancements were achieved this month as CTR activated Stage Two of the Rapid Lithium Extraction process design and development. CTR is working closely with Adionics in conjunction with HATCH to further optimize design for maximum performance and cost efficiencies.

HATCH is overseeing the process and has so far suggested CAPEX savings of over US$100 million along with significant OPEX savings.

Also, in a world-first, CTR, EnergySource, and Western Falcon Energy Services are working together to develop the first PEEK-lined pipe for application in geothermal operations.  PEEK (Polyether ether ketone) is a material that is resistant to corrosion and scale build-up, and can be manufactured at a low cost.

The prototype lined spool was successfully manufactured in March this year and will be placed into service at EnergySource’s facility to the east of CTR’s Hell’s Kitchen site.  The implementation of PEEK-lined pipe into the project has the potential to save tens of millions of dollars by replacing expensive alloy pipe.

This is the first time in the world PEEK has been built to this size and run in a geothermal operation.

More Information........

From the Global Geothermal News archives: